High Demand for Cloud-based IP Geolocation Solutions to Boost Market
Geolocation-based applications have evolved at a rapid pace in the past decade. IP geolocation solutions have evolved from niche software-based solutions to user-specific applications to important software deployed in computing systems. In the past few years, the uptake for IP geolocation, especially from the business sector is scaling new heights. Businesses around the world are gradually recognizing the potential of IP geolocation and are formulating marketing strategies based on the geographic location of their clients. While the adoption of on-premise IP geolocation solutions is expected to gain momentum in the second half of the forecast period (2019-2027), preference for cloud-based solutions will remain higher during the stipulated timeframe of the study.
Get Sample Copy:
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=75521
With the dawn of the digital era, the IP geolocation solutions market has witnessed considerable growth. Moreover, as demand for online solutions continues to grow at an unprecedented rate, software developers are in the process of rolling out innovative solutions to automate the redundant manual processes and streamline workflow models. As IP geolocation continues to head towards the mainstream, mobile applications are increasingly using these systems to collect geolocation data to pinpoint the geographical location of a device connected to the Internet. These factors are playing a crucial role in the development of the IP geolocation solutions market, which is on course to reach a value of ~US$ 2.1 Bn by the end of 2024.
Digital Era Marks Beginning of Geo Ad Targeting and Advertising
Due to significant advancements made by IP geolocation solutions, geo advertising has garnered noteworthy popularity in recent times – a trend that is set to continue through the entirety of the forecast period. Brands are leveraging the advantages of location-based advertising such as pay per click campaigns, organic searches, and banner ads to tap into their target audience. Moreover, IP geolocation solutions have emerged as one of the most critical components, which marketers can rely on for their location-based marketing campaigns.
The adoption of IP geolocation solutions is on the rise, as geo ad targeting offers businesses significant cost benefits. Apart from being a cost-effective solution and enabling marketers to run ads in the specified location, geo advertising also plays an important role in enabling brands to reach their target audience effectively. This is expected to drive the IP geolocation solutions market during the forecast period. Moreover, demand for IP geolocation solutions for ad targeting is projected to grow at an impressive CAGR of ~12% during the forecast period, as more brands are leaning toward advanced automation platforms to reach their geolocation-based marketing objectives.
Grab an exclusive PDF Brochure of this report:
https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=75521
Surge in Uptake of Security Modules for Fraud Detection
Despite significant advancements in digital technologies and cybersecurity systems, credit and debit frauds across the world continue to pose a major challenge. Detecting and preventing fraud is a major concern within the e-Commerce sector, as e-Commerce companies continue to focus on providing a seamless customer experience, particularly during the payment stage. In addition, according to the Identity Theft Resource Centre (ITRC), credit card fraud is one of the major causes of identity theft in the U.S. The advent of fraud monitoring techniques, including IP geolocation has made significant promise in addressing this problem. IP geolocation solutions assist analysts and fraud investigators to pinpoint the geographical location of the user by offering insights including latitude, longitude, postal code, city, country, time zone, etc. Within the IP geolocation solutions market, the security module segment is expected to have the second-highest market share by 2024.
Stakeholders in the IP geolocation solutions market are expected to forge new strategic alliances to develop innovative IP geolocation solutions for an array of applications. For instance, in November 2019, Sigfox entered into an agreement with Amadeus to streamline luggage tracking. Furthermore, the Sigfox also revealed that by using WiFi and GPS, the company has significantly improved its IP geolocation solution offerings.
Request For Customization:
https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=75521
Analysts’ Viewpoint
The IP geolocation solutions market is projected to grow at an impressive CAGR of ~11% during the forecast period. The growth of the IP geolocation solutions market can be primarily attributed to the growing demand for IP geolocation solutions for fraud detection, ad targeting, geo-targeting, and geo-fencing, among others. Location and security modules will remain high in demand during the forecast period, owing to the growing number of credit card frauds, targeted marketing requirements, and the likes. North America will remain the most prominent regional IP geolocation solutions market, owing to advancements in technology and a high concentration of software developers in the region.
IP Geolocation Solutions Market: Introduction
- The IP geolocation solutions market is expected to expand at a CAGR of 11% during the forecast period, primarily driven by increase in data breaches and cyber-attacks and increasing usage of location-based services (LBS)
- The IP geolocation solutions market is expected to reach value of ~US$ 1.9 Bn in 2019 to reach ~US$ 4.5 Bn by 2027
- In terms of solution, the software segment is anticipated to account for a notable share as compared to the other solution segment of the IP geolocation solutions market
- Based on module, the location module segment is anticipated to account for a notable share as compared to the other module segments of the IP geolocation solutions market
- In the application segment, ad targeting is set to dominate the market during the forecast period. Content personalization is expected to be the second fastest growing application during the forecast period.
- In terms of enterprise size, small & medium enterprises are expected to dominate the market during the forecast period.
- North America remains a prominent market for IP geolocation solutions globally, and the market in the region is estimated to be valued at ~US$ 699 Mn by the end of 2019
IP Geolocation Solutions Market: Definition
- The IP geolocation solutions market report provides analysis of the market for the period 2017 – 2027, wherein 2018 is the base year and 2019 to 2027 is the forecast period. Data for 2017 has been included as historical information.
- In this report, we analyze the growth drivers that enhance the value of the IP geolocation solutions market and various opportunities prevailing in the market.
- Providers of IP geolocation solutions are focused on developing innovative and differentiated software solutions to serve specific requirements of end users, which is expected to drive the market demand in the upcoming years.
North America IP Geolocation Solutions Market: Snapshot
North America is a rapidly expanding market owing to increasing usage of location-based services in which the U.S. is expected to be a dominating country because of increasing utilization of enterprise spatial database enabling robust location data management. These factors are expected to fuel the demand for IP geolocation solutions considerably in the near future for the region.
Key Drivers of IP Geolocation Solutions Market
- Increase in Data Breaches and Cyber-attacks: Data breaches and cyber-attacks are significantly increasing worldwide. Attackers are progressively targeting financial institutions, banks, and large companies, thereby raising the threat of cyber-attacks. The recent Symantec report highlights a huge increase in the number of cyber-attacks, from 6000 attacks in 2016 to 50,000 attacks in 2017 (600%), in which China accounted for 21% (highest share) of cyber-attacks, followed by the United States at 11%, Brazil at 7%, and the Russian Federation at 6%. It is crucial for organizations and governments to utilize their allocated budget to secure their information. For instance, in September 2015, the Singapore government announced plans to spend up to 10% of its total Information Technology (IT) budget on cyber security. Therefore, instances of international cyber-attacks have raised concerns about data security. They have thus hiked the demand for IP geolocation solutions even in small & medium enterprises (SMEs).
- Increasing Usage of Location-based Services: Location-based services (LBS) are mainly used to provide information about a user’s geographic location over the internet by utilizing real-time geographical data. The introduction of Internet of Things (IoT), wireless technologies, smart devices, and cloud computing has led to increased traffic on websites. LBS is significant to many enterprises and government organizations to gain real insights from data tied to a precise location where actions take place. On-line commerce, banking, surveillance, and many other sectors are dependent on LBS. Thus, location-based services (LBS) have become important across numerous sectors such as e-commerce, defense & intelligence, government authorities, telecommunication, transportation, e-retailing, manufacturing, and others. This has driven the acceptance of location-based services (LBS) to enhance the services and improve user experience based on end-user location which drives location-based services worldwide. Therefore, increasing usage of location-based services is significantly driving the growth of the IP geolocation solutions market worldwide.
Key Restraints of IP Geolocation Solutions Market
- Coverage & Default Locations: Various solution providers use GPS coordinates as part of a response. However, these coordinates generally spot a default location inside the relevant geography, instead of providing an accurate geographic center. Thus, these coordinates are not very reliable to recognize the precise location of the user linked with the IP address. As a result, coverage & default locations are expected to hamper the growth of the IP geolocation solutions market worldwide.
IP Geolocation Solutions Market: Competition Landscape
- In October 2019, Digital Element, Inc. announced a technological partnership with SmartSoft, based in Costa Rica (Central America), to improve the performance of Digital Element’s NetAcuity IP datasets in fraud detection, money laundering, and risk management for the financial industry.
- In September 2017, Pitney Bowes expanded its software solutions to enable organizations to better understand customers with context to location.
IP Geolocation Solutions Market: Company Snapshot
- Digital Element, Inc.: Digital Element is a business division of Digital Envoy Inc. The company provides IP geolocation data and solutions for desktop and mobile devices. The company offers solutions in IP location tracking, audience context solutions, and reverse geocoding. The solutions can be deployed in target online advertising, to localize content, manage digital rights, and prevent online frauds. The company offers the services based on customer preferences for API solutions.
- El Toro LLC: El Toro LLC is a provider of IP targeting and data canvassing solutions to businesses. The company offers a wide range of products in Matchback analysis, account based marketing, one-to-one marketing, and data onboarding. It offers solutions such as IP targeting, captive audience, digitization, digital canvassing, reverse append, and venue replay.
- MaxMind, Inc.: MaxMind, Inc. is a provider of IP intelligent solutions through the GeoIP brand. The company provides the service to more than 5,000 companies to track their internet website visitors, show them relevant ads and content, and efficiently route internet traffic. MaxMind, Inc. offers a wide range of services such as fraud identify services, database services, and web services. More than 7,000 e-commerce customers use the minFraud services of the company.
- Neustar, Inc.: Neustar, Inc. is a leading solution provider in risk, marketing, security, communication, and registry solutions. The company provides the services in customer analytics, fraud intelligence, branded contact management, caller intelligence, and number management services to businesses. It offers services to different industries such as retail, CPG & QSR, financial services & insurance, automotive, travel & hospitality, communications & technology, and government.
Read Our Latest Press Release:
About Us
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad-hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
Contact
Transparency Market Research State Tower,
90 State Street,
Suite 700,
Albany NY – 12207
United States
USA – Canada Toll Free: 866-552-3453
Email: [email protected]
